Blue Ribbon Income Fund Files Final Short Form Prospectus

TORONTO, ONTARIO--(Marketwire - Dec. 12, 2012) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Blue Ribbon Income Fund (TSX:RBN.UN)
(the "Fund") is pleased to announce it has filed a final short form prospectus with respect to a treasury offering of units of the Fund, with a maximum offering size of $40 million (3,500,000 units). The unit offering price is $11.43 which was determined so as to be non-dilutive to the most recently calculated net asset value per unit of the Fund prior to the filing of the prospectus. Closing of the offering is expected to occur on December 19, 2012.

The Fund invests in a portfolio consisting primarily of dividend-paying Canadian high income equities. The investment objectives of the Fund are to provide unitholders with monthly cash distributions and the opportunity to participate in gains in the value of the Fund's investment portfolio.

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the Fund's publicly filed documents which are available from SEDAR at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this news release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.

This offering is only made by prospectus. A final prospectus containing important detailed information about the securities being offered has been filed. Copies of the prospectus may be obtained from any of the above-mentioned agents. Investors should read the prospectus before making an investment decision.